Fun

Is Solana In A Macro Trend Move? Charts Show Potential Shift

News Feed - 2025-03-01 03:03:45

Este artículo también está disponible en español.


Solana (SOL) is trading at its lowest price level since September 2024, as the entire crypto market struggles with fear and intense selling pressure. Solana has lost over 55% of its value in less than six weeks, erasing the gains from its post-election rally and raising concerns among investors about a potential prolonged downtrend. Related Reading Dogecoin Open Interest Declines 67% In Three Months – Can Meme Coins Recover? 1 day ago


Panic has taken over the market, and traders are growing fearful that Solana’s correction may continue into lower price levels. Despite multiple attempts to reclaim momentum, bulls have been unable to defend key demand zones, allowing bears to maintain control.


Top analyst Ali Martinez shared a technical analysis on X, stating that Solana appears to be experiencing a macro trend shift from bullish to bearish. If SOL fails to recover key levels soon, it could signal a deeper downtrend and further selling pressure in the coming weeks.


For now, investors are closely watching Solana’s next move. If SOL can reclaim key resistance levels, it could stabilize and possibly trigger a recovery. However, failure to hold above current prices could lead to an extended bearish phase, increasing the risk of further declines. Solana Facing Serious Selling Pressure


Solana is trading below crucial daily support levels, invalidating the bullish structure thesis that many traders were holding onto. The price action has been weak, with Solana now caught in a high time frame range between $120 and $220. If bulls fail to defend the lower end of this range, Solana could face the risk of a prolonged bear market. Related Reading Litecoin Holds Solid Structure Amid Market Breakdown – Analyst Forecasts A Big Move 1 day ago


The current price breakdown suggests that bears remain in control as selling pressure continues to mount. Solana has struggled to reclaim momentum, and the once-strong uptrend that started in July 2023 is at risk of collapsing. Analysts are now monitoring whether SOL can hold above the $120 support level, as a failure to do so could trigger a deeper correction.


Martinez’s technical analysis states that Solana appears to be experiencing a macro trend shift. Martinez explains that the bullish trend that started in mid-2023 is on the verge of breaking, and if SOL continues to lose key demand levels, it could confirm a long-term bearish phase. Solana long-term buy and sell signals | Source: Ali Martinez on X


Investors are now waiting for a confirmation move. If Solana can reclaim key resistance levels, bullish momentum could be reestablished. However, if the price fails to hold support and breaks below $120, it may indicate the start of a bear market for Solana. Price Testing Long-Term Demand


Solana is trading at $130 after experiencing a 33% drop in less than two weeks. The market is in panic mode, with selling pressure overwhelming bullish attempts to reclaim key levels. Bulls have lost control of the price action, and Solana is struggling to find strong support. SOL price testing critical long-term demand | Source: SOLUSDT Chart on TradingView


At this stage, the most crucial level to hold is $120. If SOL falls below this mark, it could trigger a deeper correction and push the price into uncharted bearish territory. However, if buyers step in and defend this level, Solana could stabilize and prepare for a potential recovery rally.


For a trend reversal, SOL must reclaim the $160 level as soon as possible. This would help restore bullish momentum and shift market sentiment back toward optimism. However, this process could take time, especially given the current uncertainty and broader market weakness. Related Reading Long-Term Dogecoin Holders Are In “Denial” – On-Chain Metrics Expose Weakness 2 days ago


A consolidation phase around the $120–$140 range is possible before any meaningful recovery takes place. If Solana holds above support and demand starts increasing, a strong bounce could follow. However, failure to hold these levels could confirm a bearish trend, extending the correction even further.


Featured image from Dall-E, chart from TradingView

News Feed

Ethereum Nears $2,800 Break-Even Zone: Why This Is Important For Rally To $3,000
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Why is XRP price down today?
Yashu Gola12 hours agoWhy is XRP price down today?XRP price is down today, driven by delays in the Ripple vs. SEC lawsuit and diminishing expectations for a September interest rate cut.2009 Total views1 Total sharesListe
Dogecoin Whales Desert Market: Number Of $100,000 Transactions Nosedives 70%
Este artículo también está disponible en español. The price of Dogecoin has been under significant downward pressure over the past week, and the latest on-chain data sugg
New Stimulus Checks: Barbara Corcoran Slams Mark Cuban’s Expiry Date Idea, Favors Long-Term Relief
New Stimulus Checks: Barbara Corcoran Slams Mark Cuban"s Expiry Date Idea, Favors Long-Term ReliefFamous investor and “Shark Tank” star Barbara Corcoran has criticized M
Cryptocurrency Exchange Bitso Launches Interoperable QR Payments in Argentina
Cryptocurrency Exchange Bitso Launches Interoperable QR Payments in Argentina Bitso, a Mexico-based, Latam-focused cryptocurrency exchange, has launched an initiative that aims to
Crypto Biz: Blockchain B2B trending, Telegram’s new ad platform, and more
Ana Paula Pereira2 hours agoCrypto Biz: Blockchain B2B trending, Telegram’s new ad platform, and moreThis week’s Crypto Biz examines concerns over chip shortages and sustainability issues for crypto miners, Telegram
Suspected North Korean Hackers Move Bitcoin Worth $140K From Forfeited Account
Suspected North Korean Hackers Move Bitcoin Worth $140K From Forfeited AccountSuspected North Korean hackers on Monday moved 12 bitcoin, worth about $140,000, from one of 280 accoun
Assetera launches secondary tokenized RWA market on Polygon
Derek Andersen11 hours agoAssetera launches secondary tokenized RWA market on PolygonAssetera will provide Europe"s first regulated secondary tokenized real-world asset marketplace.1262 Total views1 Total sharesListen to
Business Advisory Firm Expects Criminal Cryptocurrency Transactions to Fall by 30% by 2024
Business Advisory Firm Expects Criminal Cryptocurrency Transactions to Fall by 30% by 2024 Gartner, an advisory firm, has predicted that criminal cryptocurrency transactions or tra
OCC Wants to End Banks’ Discrimination of Disfavored Businesses Including Crypto Companies
OCC Wants to End Banks" Discrimination of Disfavored Businesses Including Crypto Companies The OCC is proposing a rule change that compels large U.S. banks to of
William Suberg14 hours agoBitcoin bull market awaits as US faces ‘bear steepener’ — Arthur HayesBitcoin is witnessing a 16-year high in 30-year U.S. government bond yields, and money printing is all but guaranteed,
Will The Bitcoin Price Move Above $110,000 Again? Global M2 Money Supply Shows What’s Next
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu